Tarek Mansour

Rule Changes

Summoned to appear in Utah's Third District Court on Dec. 4 to answer 14 criminal counts

Utah's criminal case against Kalshi now has a courtroom date. A state court summoned chief executive Tarek Mansour and chief operating officer Luana Lopes Lara to answer 14 criminal counts in Salt Lake City on Dec. 4. The charges, filed Oct. 28, rest on 12 sports wagers a state investigator placed from a Utah address between Sept. 13 and Sept. 26.

Updated 3 days ago

Money Moves

Runs a $40 billion company; named in Utah criminal complaint

Kalshi raised $1 billion at a $40 billion valuation, up from $22 billion in May. Sequoia Capital and Wellington Management co-led the round. The company says the money will pay for single-stock perpetual futures, contracts tied to computing costs and index products built with S&P.

Updated 6 days ago

Money Moves

Closed a second $1 billion raise, at a $40 billion valuation, while leading Kalshi's defense against Arizona criminal charges and state restrictions

Kalshi raised another $1 billion on October 30, at a $40 billion valuation, with Sequoia and Wellington leading the round. The deal came about five months after a $1 billion raise at $22 billion, and Kalshi says it will use the capital to expand beyond prediction markets into a multi-asset platform.

Updated Oct 31

Rule Changes

As of September 2026: Leading Kalshi's appeals against state gambling bans after losses in the Ninth, Sixth, and 10th circuits

Utah has pushed its fight with Kalshi from civil court into criminal court. On Oct. 28 the state charged the prediction market and two of its executives with a felony over bets offered in Utah, after a federal judge refused to pause the state's ban while Kalshi appeals.

Updated Sep 29